GBP/JPY 15-Minute Chart Analysis
1. Market Structure
The chart indicates a potential reversal or correction after an extended bullish run.
Price reached a strong resistance zone (~194.45 - 194.92) and is now showing signs of rejection.
A bearish retracement is forming, with price breaking a short-term ascending trendline.
2. Key Levels
Resistance Zone (~194.45 - 194.92): This area acted as a supply zone where price faced selling pressure.
Support Zone (~193.30 - 192.90): This is the next potential demand zone where buyers may step in.
3. Bearish Setup Confirmation
The trade setup suggests a short (sell) position, with:
Entry after trendline break (~194.30 - 194.29)
Stop-loss above resistance (~194.92)
Take-profit at next support (~193.30 or 192.90)
The Risk-to-Reward Ratio (RRR) looks favorable, with a target almost twice the risk.
4. Trading Strategy
If Price Stays Below 194.30 → Bearish confirmation; hold sell trade.
If Price Breaks Above 194.92 → Trade invalidation; cut losses.
If Price Drops to 193.30 - 192.90 → Secure profit or trail stop-loss.
5. Additional Confirmation Factors
EMA 50: Price is testing the 50 EMA, which may act as short-term resistance.
Bearish Momentum: Rejection candles at the resistance zone indicate selling pressure.
Conclusion
Primary Bias: Bearish (short-term correction)
Entry Zone: ~194.30 - 194.29
Stop Loss: ~194.92 (above resistance)
Take Profit: ~193.30 or ~192.90
Trade Confirmation: Look for bearish momentum and rejection candles.
The chart indicates a potential reversal or correction after an extended bullish run.
Price reached a strong resistance zone (~194.45 - 194.92) and is now showing signs of rejection.
A bearish retracement is forming, with price breaking a short-term ascending trendline.
2. Key Levels
Resistance Zone (~194.45 - 194.92): This area acted as a supply zone where price faced selling pressure.
Support Zone (~193.30 - 192.90): This is the next potential demand zone where buyers may step in.
3. Bearish Setup Confirmation
The trade setup suggests a short (sell) position, with:
Entry after trendline break (~194.30 - 194.29)
Stop-loss above resistance (~194.92)
Take-profit at next support (~193.30 or 192.90)
The Risk-to-Reward Ratio (RRR) looks favorable, with a target almost twice the risk.
4. Trading Strategy
If Price Stays Below 194.30 → Bearish confirmation; hold sell trade.
If Price Breaks Above 194.92 → Trade invalidation; cut losses.
If Price Drops to 193.30 - 192.90 → Secure profit or trail stop-loss.
5. Additional Confirmation Factors
EMA 50: Price is testing the 50 EMA, which may act as short-term resistance.
Bearish Momentum: Rejection candles at the resistance zone indicate selling pressure.
Conclusion
Primary Bias: Bearish (short-term correction)
Entry Zone: ~194.30 - 194.29
Stop Loss: ~194.92 (above resistance)
Take Profit: ~193.30 or ~192.90
Trade Confirmation: Look for bearish momentum and rejection candles.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.